Financial literacy must be taught because finance is a topic central to every student’s life. A student’s financial knowledge may affect whether or not the student thinks about college as a long-term investment, how responsibly that student manages his or her day to day costs, and how prepared he or she is to pay for major expenses, such as an education, car, or home. Students with a fundamental financial education background are more likely to practice financial responsibility by saving money, paying off credit card bills, and thinking like a critical consumer.
However, many parents are uncomfortable talking with their children about financial issues. A majority of teachers report that they would not feel comfortable teaching financial topics in the classroom. Thus, it is imperative that we provide teachers and parents with the knowledge and resources to help make our youth financially literate. And, if we are able to educate this generation of young people in financial matters, perhaps today’s young people will be more inclined and more able to pass on its knowledge to tomorrow’s youth.